About NovaSource Power Services
NovaSource Power Services is a company based in Austin (United States) founded in 2020 by Jack Bennett.. NovaSource Power Services has raised $100 million across 1 funding round from investors including OMERS Private Equity. NovaSource Power Services has completed 1 acquisition, including Heliolytics. NovaSource Power Services offers products and services including O&M Services, Aerial Inspection Services, and Supply Chain Services. NovaSource Power Services operates in a competitive market with competitors including Gensol, BHI Energy, SunSystem Technology, Inspire Clean Energy and ENER-PACTE, among others.
- Headquarter Austin, United States
- Founders Jack Bennett
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Sectors
Energy & Utilities
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$100 M (USD)
in 1 rounds
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Latest Funding Round
$100 M (USD), Series C
Aug 09, 2022
- Investors
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of NovaSource Power Services
NovaSource Power Services offers a comprehensive portfolio of products and services, including O&M Services, Aerial Inspection Services, and Supply Chain Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Data-driven operations for renewable assets to optimize performance.
Aerial monitoring to detect issues in renewable energy systems.
Support for supply chains in renewable energy projects.
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Software Development Team
34 people
Finance and Accounting
7 people
Sales and Marketing
6 people
Human Resources and Administration
6 people
Operations Team
6 people
Leadership Team
3 people
Electrical Team
2 people
Product Management Team
2 people
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Funding Insights of NovaSource Power Services
NovaSource Power Services has successfully raised a total of $100M through 1 strategic funding round. The most recent funding activity was a Series C round of $100 million completed in August 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series C — $100.0M
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First Round
First Round
(09 Aug 2022)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Aug, 2022 | Amount | Series C - NovaSource Power Services | Valuation | OMERS |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in NovaSource Power Services
NovaSource Power Services has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include OMERS Private Equity. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity investments are managed for municipal pension plans.
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by NovaSource Power Services
NovaSource Power Services has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Heliolytics. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
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Solar operations and maintenance services are provided to utility-scale projects.
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - NovaSource Power Services
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Novasource Power Services Comparisons
Competitors of NovaSource Power Services
NovaSource Power Services operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gensol, BHI Energy, SunSystem Technology, Inspire Clean Energy and ENER-PACTE, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of solar advisory and execution services
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Renewable energy and oil & gas projects are developed.
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| domain | founded_year | HQ Location |
Operations and maintenance services are provided for solar energy systems.
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| domain | founded_year | HQ Location |
Provides solar PV asset management and operations & maintenance services.
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| domain | founded_year | HQ Location |
Provider of O&M services for solar power plants
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Novasource Power Services
Frequently Asked Questions about NovaSource Power Services
When was NovaSource Power Services founded?
NovaSource Power Services was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Where is NovaSource Power Services located?
NovaSource Power Services is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Who is the current CEO of NovaSource Power Services?
Jack Bennett is the current CEO of NovaSource Power Services. They have also founded this company.
Is NovaSource Power Services a funded company?
NovaSource Power Services is a funded company, having raised a total of $100M across 1 funding round to date. The company's 1st funding round was a Series C of $100M, raised on Aug 09, 2022.
What does NovaSource Power Services do?
NovaSource Power Services was established in 2020 and is based in Austin, United States. Operations and maintenance services for solar power assets are delivered in the renewable energy sector. Focus is placed on optimizing performance and uptime for utility-scale and commercial solar installations. The company is led by Founder and CEO Jack Bennett, with activities centered in North America.
Who are the top competitors of NovaSource Power Services?
NovaSource Power Services's top competitors include Gensol, BHI Energy and SunSystem Technology.
What products or services does NovaSource Power Services offer?
NovaSource Power Services offers O&M Services, Aerial Inspection Services, and Supply Chain Services.
How many acquisitions has NovaSource Power Services made?
NovaSource Power Services has made 1 acquisition, including Heliolytics.
Who are NovaSource Power Services's investors?
NovaSource Power Services has 1 investor. Key investors include OMERS Private Equity.
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